party poker

Monday, January 21, 2008

American poker player loses $30,000 win to mugger | The Australian

American poker player loses $30,000 win to mugger | The Australian: "A YOUNG American poker professional has been fleeced of $30,000 in cash - not playing high stakes cards inside Crown casino, but walking home."

Read more about Jason Potter here

The 2008 Borgata Poker Open is under way

[Press Release]ATLANTIC CITY, NJ (January 16, 2008) – The 2008 Borgata Winter Poker Open (WPO) kicked off yesterday with the start of Event #1, the $300 +$50 No-Limit Hold’em tournament. Building on the success of the last year’s event, which featured the biggest poker tournament in Atlantic City history, the 2008 WPO is set to break last year’s Championship Event record of 571 players and top the monstrous prize pool of $5.5 million.

In a unique twist to the traditional Borgata WPO-WPT Main Event first-place cash, Borgata has upped the ante of this year’s WPO Championship Tournament by giving the first-place winner a custom-built Harley Davidson Street Glide motorcycle from Harley-Davidson Millville/Wildwood.

Featuring a 17-day tournament, the Borgata WPO runs January 15 to 31, 2008, when it culminates with the Borgata Poker Classic, a WORLD POKER TOUR® (WPT) $10,000 buy-in Main Event. In addition to the 17 Main Event tournaments, this year’s WPO tournament features a new line-up of tournaments, created to give players more opportunities to get in on the action. Featuring 75 tournaments, including No-Limit Hold’em, Limit Hold’em, super satellites, and single table tournaments, this 2008 WPT event offers players plenty of action.

Enhancements to this year’s WPO include Borgata’s Modified Shoot-Out, which provides players with a chance to enjoy single-table play, while participating in a traditional tournament setting. The Borgata Ladies No-Limit Hold’em tournament on Sunday, January 20, which will debut a new WPT Ladies League, and the addition of 20 revamped poker tables in the Borgata Event Center , offer players a further elevated gaming experience.

Televised nationally on the Game Show Network (GSN), the Borgata Poker Classic is one of the premier stops on WORLD POKER TOUR's 17-tournament tour. Featuring the world's top poker players and local fan favorites, this year’s WPO championship event will provide fans with plenty of fireworks.

On-site registration for all events is available until January 29 at 2 p.m. Special hotel room rates are available to tournament players Sunday through Thursday at $129, Friday at $199 and Saturday at $239. Call 1.866.MYBORGATA for more details. For the complete tournament schedule, blogs and more, visit theborgata.com.

About Borgata Hotel Casino & Spa

Borgata is a joint venture of Boyd Gaming Corporation (NYSE: BYD) and MGM MIRAGE (NYSE: MGM). Located at Renaissance Pointe in Atlantic City, it features 2,000 guest rooms and suites, 161,000 square feet of gaming, 200 gaming tables, 4,100 slot machines, 14 destination restaurants, 11 retail boutiques, a 54,000 square foot spa, 70,000 square feet of event space, and parking for 7,100 cars.

For more information on Borgata or to obtain a copy of this press release, please visit theborgata.com or use AOL keyword: borgata. Additional news and information on Boyd Gaming can be found at boydgaming.com; additional information on MGM MIRAGE can be found at mgmmirage.com.

Thursday, January 17, 2008

What happened to Party Poker?


PartyPoker Continues to Struggle in the online poker market

It's incredible how PartyPoker fell from the top of the world in online poker to pay dirt. Back in June of 2005, Party Gaming went public and immediately made the founders instant millionaires. The company was valued around 8 billion dollars. It had the most online poker players and it was way ahead of the competition. They were making companies like PokerStars, Full Tilt and Ultimate Bet each their dust. You would see PartyPoker ads everywhere. It was on ESPN on the World Series of Poker, the World Poker Tour, any televised tournament and even at B&M poker rooms. All it took was one dumb stinking piece of legislation to ruin the empire. What a turnaround.

Party Gaming is now the #3 online poker room, below Pokerstars and Full Tilt Poker. Full Tilt has about 1000 more real money platers per week than Party Poker. Pokerstars is the leader of the pack with almost double the size of Full Tilt, with an average of 14,000 real cash players on average. Not to mention that the iPoker network is creeping on the #3 spot. The iPoker network includes poker rooms like Fair Poker, CD Poker, Noble Poker, Titan Poker and Tony G Poker. It'll probably be only a matter of time before they overtake Party Gaming.

I think the main problem was with PartyPoker's main reliance on the US market. Once that legislation passed, US players flocked and Party banned US players from playing on their site.

It's going to be interesting to see what Party will do to fix this problem before it goes under. The key about online poker rooms is that if you have players, then you make money. As the tables start getting empty, it'll be harder to find good games and players will just move on to the bigger sites.

Monday, January 07, 2008

What Proposed UIGEA Regulations Mean For Poker Players

The Unlawful Internet Gambling Enforcement Act is such a joke. The basically destroyed online poker. Online poker was one of the largest movements on the internet and just because one Congressman thought that it was helping fund terrorist activity, the entire sport of poker came to a halt. This not only affected US players but all players around the globe; not to mention a bunch of great online poker rooms.


Poker Player :: Articles :: What Proposed UIGEA Regulations Mean For Poker Players:
"What Proposed UIGEA Regulations Mean For Poker Players
by I. Nelson Rose filed under Poker News on 2008-01-06 [Originally appeared in the January 7, 2008 issue of Poker Player]

Last October, Congress passed the unworkable Unlawful Internet Gambling Enforcement Act, which I call Prohibition 2.0. It required federal regulators to write regulations requiring money transferors, including banks, credit card companies and e-wallets, to identify and block funds for illegal Internet gambling. Faced with an impossible task, the regulators punted: They issued proposed regulations that tell the banks, etc., 'It's your problem. You shouldn't block legal online gambling transactions. But if you transfer funds for an illegal bet, you will be fined, or worse.' The immediate impact of these proposed regulations for poker players is ... nothing. Nothing has changed, and nothing will change, for many, many months.

The long-run impact is not as rosy. There will be plenty of ways to get around whatever procedures are eventually put into place to identify and block funds transfers for unlawful gambling. But all American financial institutions, and their large counterparts overseas, are not going to take chances: They will block all gambling transactions, even legal ones.
So poker players will be forced to open foreign bank accounts, use foreign credit cards and e-wallets, or use slower and sometimes even less reliable means, such as snail-mailing paper checks or using phone cards. The Act had been rammed through Congress by the failed politician, then Senate Majority Leader Bill Frist (R.-TN). Frist attached it to the SAFE PORTS Act and told Democrats that if they didn't like it, they could vote against it, and be seen as being soft on Islamist terrorism. Although Prohibition 2.0 scared the bejesus out of publicly traded poker companies, it actually does only two things: It creates one new crime, being a gambling business that accepts money for unlawful Internet gambling transactions, and requires new regulations for payment processors.

What it doesn't do is make it a crime to play poker on the Internet. It doesn't directly restrict players from sending or receiving money. It doesn't spell out what forms of gambling are "unlawful." Specifically, it does not do what the federal Department of Justice ("DOJ") wanted, which was to "clarify" that the Wire Act covers Internet casinos, lotteries and poker.

The new felony it creates is greatly limited. Only gambling businesses can be convicted, not players. Bizarrely, for a law designed to prevent money transfers, the financial institutions involved in those transfers, including e-wallets, are expressly defined as not being gambling businesses and so cannot be convicted of this new crime. The proposed regulations have finally been issued, four months late. The general public now has until December 12 to make comments. The agencies will then make changes in the proposed regulations. The final versions will then be published, supposedly giving everyone six months to set up their procedures.

This is not going to happen.

The proposed regulations put the burden entirely on the payment processors to come up with procedures for identifying and blocking restricted money transfers. But this can't be done in six months. In fact, it can't be done at all.

The problem is defining "unlawful Internet gambling." Take, for example, poker.

It is unclear whether online poker violates any federal law. Some states, like California, do have specific prohibitions on unlicensed commercial poker, but it is unclear whether these apply to foreign operators.

And 157 years of bad cases and obscure statutes make it a crime to participate, as a player, in any poker game where the pot is raked more than four times. How many payment processors even know what it means to rake a pot four times?

The problem for players is there is no law forcing U.S. banks to transmit funds for legal gambling, while there will be penalties for transmitting funds for what turns out to be an unlawful bet.

Wednesday, January 02, 2008

Germany bans online gambling

Bloomberg.com: Germany: "Online gambling will be banned in Germany as of Jan. 1 after German states ratified an accord that preserves the country's state monopoly for lotteries and most forms of betting."

It looks like Germany is jumping on the "Ban online gambling" bandwagon. First the USA, now Germany. It's only a matter of time before other European nations follow suit. Off the top of my head, I don't know any famous professional poker players so you likely won't miss seeing any players at the WSOP.


Full Article Here